CBE reveals $1.48 billion raise in Net foreign assets

Cairo – April 6, 2025: Egypt's net foreign assets saw a substantial increase in February, rising by $1.48 billion, according to a report released by the Central Bank of Egypt (CBE).

This is the second rise in 2025, bringing foreign assets to $10.17 billion (LE 515.856 billion), up from $8.7 billion (LE 437.261 billion) in January.

The growth in foreign assets was partially fueled by the successful $2 billion international bond sale on January 29, marking Egypt's first dollar-denominated bond issuance in four years.

These assets are expected to continue increasing in March, following the International Monetary Fund's (IMF) approval of its fourth review of Egypt's $8 billion financial support package, agreed upon in March 2024. This approval unlocked $1.2 billion in funding, with an additional $1.3 billion made available through the IMF’s resilience and sustainability facility.

Further boosting Egypt's foreign assets, the European Parliament approved the release of the second tranche of the European Union's macro-financial assistance package for Egypt last week, amounting to €4 billion.

In addition to foreign asset growth, the CBE's latest report highlighted an increase in the total foreign assets of the banking sector—comprising both the Central Bank and commercial banks—which amounted to LE 3.653 trillion in February, up from LE 3.579 trillion in January. Foreign liabilities, however, saw a slight dip, edging down to LE 3.137 trillion from LE 3.142 trillion in January.

Egypt’s banking sector also saw a rise in local liquidity, with local liquidity standing at LE 12.218 trillion in February, an increase of LE 581.9 billion from December 2024. The money supply climbed to LE 3.054 trillion, compared to LE 2.803 trillion in December. Cash in circulation outside the banking system also grew, reaching LE 1.197 trillion, up from LE 1.121 trillion.

The report also indicated that non-governmental deposits in local currency held by banks rose to LE 7.982 trillion in February, up from LE 7.555 trillion in December 2024, reflecting a growth of LE 427.2 billion.

The banking sector's demand deposits in local currency increased to LE 1.857 trillion, up from LE 1.682 trillion in December. These deposits were largely distributed across the public business sector (LE 117.828 billion), the private sector (LE 1.009 trillion), and the household sector (LE 730.077 billion).

Term deposits and savings certificates in local currency saw a rise to LE 6.125 trillion, compared to LE 5.873 trillion in December. The breakdown of these deposits showed that the public business sector held LE 72.297 billion, the private sector accounted for LE 344.481 billion, and the household sector held LE 5.708 trillion.

In terms of foreign currency deposits, non-governmental deposits in foreign currencies held by banks also increased, reaching the equivalent of LE 3.037 trillion in February, up from LE 2.959 trillion in December. Demand deposits in foreign currencies stood at LE 731.035 billion, while term deposits and savings certificates amounted to around LE 2.306 trillion. The breakdown of these foreign currency deposits showed that the public business sector held LE 42.494 billion in demand deposits, while the private sector held LE 489.594 billion, and the household sector had LE 199 billion.

For term deposits and savings certificates in foreign currencies, the public business sector accounted for LE 141.734 billion, the private sector held LE 547.569 billion, and the household sector had LE 1.617 trillion.